NPA menace in banking sector / Article by Kumud Das in NationalHeraldIndia.com on 18.6.2018

Read full article here: https://www.nationalheraldindia.com/india/govt-and-banks-grope-in-dark-in-their-battle-against-bad-loans

Words used in the original article:

1. daunting task = frightening

2. catch = hold, (difficulty in doing something)

3. revamp = to  give a new form

4. grim  = frightful

Discussion:

The NPA (non-performing assets) or bad loans in banking sector is piling up day by day. It has reached  Rs. ten lakh crore in the March end of 2018 that is gigantic in size. As NPA signifies inefficiency of banks and causes a heavy loss to them it must be stopped by any means. It is seen that some Rs. 8,90000/= crore are the bad loans of public sector banks and rest of others. The causes can be many. The top posts like MDs and CEOs of many of the Public Sector banks are vacant since long. In absence of the top authority the banks flinch from taking any big decisions which ultimately affect their efficiencies. Moreover ARC (Asset Reconstruction Committees) and AMC (Asset management committee) are yet to be set up in case of some banks. The modalities of these committee and other matters pertaining to them are being considered by Sunil Mehta Committee. Mehta Committee has been set up by the present Union government to find the ways of resolving the issue of stressed assets. This committee may also consider the merger of small banks or infusion of capital into the loss making banks. 

Words used in the discussion:
1. flinch from - halt, recoil